VANCOUVER, British Columbia, April 27, 2026 (GLOBE NEWSWIRE) -- VR Resources Limited ("VR" or the "Company", ("VR" or the "Company", TSXV:VRR) is pleased to announce the successful closing of its previously announced upsized private placement (the "Offering") of units of the Company (the "Units"). A total of 4,680,000 Units, including pursuant to the exercise of an overallotment option, were sold under the Offering at a price of $0.25 per Unit (the "Issue Price") for aggregate gross proceeds of $1,170,000.
The Offering was led by Centurion One Capital Corp. as lead agent and sole bookrunner (the "Lead Agent"). Gowling WLG (Canada) LLP acted as counsel to the Company, and Cozen O'Connor LLP acted as counsel to the Lead Agent in connection with the Offering.
Dr. Michael Gunning, Chief Executive Officer of the Company commented: "We are pleased to have successfully closed this oversubscribed financing and are appreciative of the hard work and continued support provided by Centurion One Capital as lead agent and investor. We are excited to have this capital to reinforce our plans for drilling at the New Boston tungsten-moly-copper-silver polymetallic porphyry project in Nevada, with a focus on unlocking value for shareholders in the near-term."
Each Unit consists of one common share of the Company (each a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to purchase one Common Share (a "Warrant Share") at a price of $0.30 (the "Exercise Price") for a period of 36 months from the date of closing of the Offering (the "Closing Date").
Proceeds of the Offering will be used for the planned upcoming diamond drill program at the New Boston tungsten-moly-copper-silver porphyry project in Nevada, marketing, and general corporate expenses.
In connection with the Offering, the Company paid a cash commission of $93,600 (the "Cash Commission"), issued 468,000 Units as a corporate finance fee (the "Corporate Finance Fee Units") and issued 374,400 non-transferable broker warrants (the "Broker Warrants") to the Agent and in respect of the Cash Commission and the Broker Warrants, to the Agent and other brokers. Each Broker Warrant entitles the holder to acquire a Unit at the Issue ...
